Mortgages

Many customers are turned down for mortgages due to the stringent, often rigid criteria of most traditional lenders.

Inflexible credit score techniques often mean that perfectly credit-worthy applicants are unable to obtain mortgage facilities. Together with our Lender Partners we are able to provide solutions to these customers, even where people have been turned down before or where there is a poor credit history such as missed payments, defaults, County Court Judgements (CCJ’s) Individual Voluntary Arrangements (IVA’s) or previous bankruptcies.

Loans are available up to 90% LTV depending upon the circumstances.

We aim to provide an efficient service at all times so that you can feel confident about working with us.

We take care to maintain high standards and if we are aware of client concerns or unease we give priority to resolving the matter as quickly as possible. We therefore have a clear process which ensures that complaints, however rare, are handled fairly and within reasonable timescales. Please contact us if you would like a copy of our Complaints Handling Procedure.

In the event of a complaint, if we are unable to resolve the issue to your satisfaction or within our stated timescale, then you may refer your complaint to the Financial Ombudsman Service (FOS) within 6 months of the date of our final response letter. Otherwise you may lose the right to this referral right. A copy of the Financial Ombudsman Service leaflet ‘your complaint and the Ombudsman’ will be sent to you and you may request further copies as necessary.

The Financial Ombudsman Service can be contacted at Exchange Tower, London E14 9SR

Second Charge Mortgages

Advantages of a Second Charge Mortgage

Second charge mortgages are now an absolute essential as a ‘best advice’ tool. An alternative to re mortgaging, second charge mortgages provide funds to those who would be penalised for redeeming a mortgage early or would have to accept a higher interest rate because of adverse credit or changes of circumstances generally. Setting up costs are minimal and the loan term can be set independently from the main mortgage.

Cost Effective

Compare a Second Charge mortgage with the true cost of a re-mortgage. It’s often cheaper to take out a Second Charge Mortgage than to Re-mortgage. With The Select Partnership there are:

No application fees

No solicitors fees

No Higher Lending Fees

No Early Repayment Charges to be paid to an existing mortgage company – the existing first charge mortgage remains unaltered

Other Advantages

Funds are often available more quickly

Affordability assessments can be more favourable

Customers with an adverse credit history such as CCJ’s, defaults, IVA’s or mortgage arrears can be accommodated on many plans

Existing mortgage is not affected – very useful if your customer is enjoying a competitive mortgage rate or if their credit history has altered since the mortgage was arranged

Early Repayment Charges on residential property are now limited to a maximum of one month’s interest with one month’s notice

Procuration fees payable to you

Flexibility

Loans available from £5,000 to £500,000

Terms of between 3 – 25 years

Maximum age 80

Residential or Buy-to-Let property

Lenders

We work with a panel of lenders including Shawbrook Bank, West One, Evolution, Together and Masthaven who provide a wide range of products to help your clients.

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